3rd wave opportunity
Talent Demands of Third Wave IT Company - Mastek
The Indian IT industry is going through a period of rapid transformation calling for new business models, capabilities and people competencies. What worked in the past may not hold for the future. For instance, in the 1st Wave of IT growth up to the late '80s, the business model revolved largely around body-shopping and labour cost arbitrage. In the 2nd Wave of growth that began in the 90’s with the Y2K boom, Indian companies began providing a wide range of outsourced IT services.
However, a combination of factors, including rising people costs, an appreciating rupee, and an increasing focus on results and value add by global customers, is compelling Indian IT companies to move up the value chain. As a result, the Indian IT industry is witnessing the 3rd wave of its evolution.
The key business driver of a 3rd Wave IT company is not scale or revenue growth but customer value add and profitable growth. They are more likely to be niche players and mid sized product companies offering high impact, customised solutions in an industry vertical that is often not profitable enough for a large company to invest in. For instance, at Mastek we have made substantial investments in creating IP in verticals such as insurance and government that are of strategic importance to our clients.
Talent Profile in 3rd Wave IT Company - Mastek
At Mastek as a 3rd wave IT company our focus is on delivering mission-critical solutions that directly impact a customer's business. This calls for a very different talent profile and mix of HR practices than a traditional 2nd Wave services company.
Building high-impact solutions requires deep domain expertise, a thorough understanding of business as well as technology, a high level of customer contact and the ability to deliver sustainable value. As such a 3rd Wave company like Mastek typically looks to recruit IT specialists with strong business, consulting and people management capabilities.
This is a big shift from IT services companies where customer contact is low to moderate and the level of customisation is low. As such the primary focus is on building technical expertise and in ensuring continuity of services.
Culture as a competitive advantage
Indeed, at Mastek we believe it is ultimately our culture and the collective aspirations of our people that set us apart as a world class IT Solutions Company.
Our CEO, Sudhakar Ram, has recently outlined the following as key facets of our service along with the key competencies and skills called for:
| |
Key Facets of Service |
People Competencies and Skills |
| 1. |
High Impact Strategic Applications |
- Business Savvy
- Value Thinking
- Communicating strengths
|
| 2. |
Setting the standard in collaboration both internally and externally to co-create solutions |
- Competent and well informed in own field
- Deep listening
- Taking initiative, a stand where required
- Integrating local culture and practices
|
| 3. |
Responsible and Reliable Delivery |
- Responsibility for the whole
- Systems Thinking
|
| 4. |
Long Term Focus |
- Cultural compatibility
- Long term orientation and relations
- Personal and professional development
|
Key HR Practices
Since the creativity and productivity of talent visibly drive success in a 3rd Wave company great care needs to be taken in the first place to select talent based on both technical and HR skills.
Development is accelerated through investment in professional training and by providing critical learning experiences on the job that is linked to an individual's personal and professional development needs. People are encouraged to take responsibility not only for the outcomes of their work but also for their own careers.
For an IT professional, a 3rd Wave company like Mastek throws up many interesting career opportunities. Talented freshers typically grow to Module Leads and based on their aptitude and aspirations choose from a wide variety of streams as tabled below:
| |
Career Aptitude |
Career Stream |
| 1. |
Impact business value through quantum changes in systems and processes |
Business Analyst |
| 2. |
Build solutions for complex business problems |
Solution Architect |
| 3. |
Contribute at the cutting edge of technology |
Technical Architect |
| 4. |
Plan and execute complex programs |
Project Management |
| 5. |
Improve effectiveness and efficiency through systems and processes |
Quality Assurance |
In Mastek, reward and growth are typically based on value and results delivered to the customer. However, there is a great amount of reward that is intrinsic to the work of a 3rd Wave IT company. For those who thrive on challenges and are driven by excellence, the opportunity to make a real difference to clients' businesses and the lives of their customers is reward in itself.